June 14, 2024
Stock Market

Sensex Today | Stock Market LIVE Updates: Sensex off day’s high, surges 1,400 pts, Nifty above 22,200; India VIX declines 30%


12:41:42 PM IST, 05 June 2024

Stock Market LIVE Updates | Kronox Lab Sciences IPO booked nearly 43x on last day.

The initial public offering (IPO) of Kronox Lab Sciences has garnered significant interest, with a subscription rate of nearly 43 times as of the final day of the bidding process. This surge in subscriptions has been primarily driven by robust demand from non-institutional investors, whose category was oversubscribed by an impressive 113 times.

The categories designated for retail and Qualified Institutional Buyers (QIB) investors were oversubscribed by over 34 times and 4 times, respectively. The IPO reserved 50% for qualified institutional buyers, 15% for non-institutional investors, and the remaining 35% for retail investors.

12:39:56 PM IST, 05 June 2024

Sensex Today | Stock Market LIVE Updates | Railway stocks trade in red

12:30:35 PM IST, 05 June 2024

Australian shares end higher; GDP data quells rate hike fears

Australian shares finished Wednesday on a positive note, driven by increases in financial, healthcare, and real estate stocks. Additionally, concerns regarding any imminent interest rate hikes by the central bank were alleviated by the country’s sluggish economic growth in the first quarter.

The S&P/ASX 200 benchmark index concluded 0.4% higher at 7,769.0 points. This followed a 0.3% decline in the benchmark on Tuesday.

12:15:58 PM IST, 05 June 2024

Sensex Today | Stock Market LIVE Updates | Top gainers & losers at this hour

12:01:12 PM IST, 05 June 2024

Sensex Today | Stock Market LIVE Updates | Raamdeo Agrawal’s advice to SIP investors amid market correction

“The message to the SIP investors is very clear that they must make double that every single instalment of the monthly SIP is credited to the MFs,” says Raamdeo Agrawal, Motilal Oswal Group.

12:13:16 PM IST, 05 June 2024

Election View | Prashanth Tapse, Senior VP (Research), Mehta Equities

Markets are expected to remain volatile in the short term, even as the NDA-led BJP is set to form the government for the third time, making history. Given the known factors, it’s advisable to allow some time for the markets to stabilize following the unexpected election outcome. Traders and investors should be cautious and consider focusing on defensive and non-government-driven sectors such as FMCG, Telecom, and Pharma stocks. The upcoming budget and quarterly earnings reports will be crucial events that could influence market movements. FIIs are likely to reconsider their positions, and DII money will be tested in the short term, which is a cause for concern. Technically, the upside appears limited in the short term, while the downside may develop in phases. The key level to watch is the psychological 21,000 mark; if the market closes below this level, further selling could drive it down to test 20,200.

11:39:49 AM IST, 05 June 2024

NDA is back with a caveat; how will Modi-favoured PSU stocks fare now?

The recent India elections have resulted in a negative surprise, with the NDA securing a narrower majority. This outcome has unsettled investors on the D-Street (Dalal Street, a term for the Indian stock market). Over the past decade, public sector undertakings (PSUs) emerged as significant beneficiaries of government policies, evident in the multibagger surge in the prices of certain PSU stocks.

11:37:14 AM IST, 05 June 2024

Stock Market LIVE Updates | Nifty Auto index hits 52-week high, jumps over 4%

11:37:41 AM IST, 05 June 2024

Stock Market LIVE Updates | Sea of Green

  • All sectors rally as Nifty tops 22,400
  • Auto and FMCG indexes hit 52-week high

11:28:02 AM IST, 05 June 2024

Sensex Today | Stock Market LIVE Updates | SENSEX SOARS 1,600 PTS; NIFTY ABOVE 22,400

11:15:46 AM IST, 05 June 2024

Sensex Today | Stock Market LIVE Updates | SENSEX SOARS 1,400; NIFTY ABOVE 22,300

11:09:11 AM IST, 05 June 2024

Sensex Today | Stock Market LIVE Updates | FMCG Stocks In Focus

11:02:24 AM IST, 05 June 2024

Sensex Today | Stock Market LIVE Updates | SENSEX HEATMAP: Check out how top stocks are performing

11:00:12 AM IST, 05 June 2024

Sensex Today | Stock Market LIVE Updates: Sensex surges 1,000 pts

HUL, Nestle, Asian Paints, M&M top gainers from 30-share Sensex pack

10:54:01 AM IST, 05 June 2024

CLSA tweaks India portfolio, fears de-rating in expensive capex stocks

Following the failure of Prime Minister Narendra Modi’s BJP to secure a simple majority in the Lok Sabha election, global brokerage firm CLSA has adjusted its India portfolio to adopt a more defensive stance. As part of this adjustment, it has replaced L&T with HCL Tech in its India-focused portfolio.

“Recognising these uncertainties, we take out L&T from our India focus portfolio and replace it with HCL Tech. L&T has been in our portfolio since its inception in January 2021 and outperformed by a huge 106.2ppt. ITC remains our preferred staples name,” CLSA said.

10:48:55 AM IST, 05 June 2024

Stock Market LIVE Updates | HUL, ITC drive Sensex 600 pts higher

10:39:29 AM IST, 05 June 2024

Sensex Today | Stock Market LIVE Updates | Sectoral Snapshot

  • FMCG sector surge up to 6%
  • IT, pharma and auto indices jump up to 2.5%
  • PSU Bank and realty drop over 3%

10:33:17 AM IST, 05 June 2024

Market Expert View: MOSL on how markets can move going ahead, top picks from largecap & midcap space

In the very near term, we expect the market to remain obsessed with government formation exercise, with a keen eye on key cabinet portfolios such as Finance, Defense, Roads, Energy, Commerce, and Railways.

With elections now behind, fundamentally, India remains in a very good shape with almost a mini-Goldilocks moment with excellent macros (GDP growth of 8.2% in FY24 on the back of ~7% growth in FY23, inflation at ~5%, both current account and fiscal deficits well within tolerance band, stable currency, etc.), solid corporate earnings (Nifty ended FY24 with 25% earnings growth and FY25/26 earnings are likely to post 14-15% CAGR) and valuations at ~20x one-year forward earnings. After the initial disappointment and anxiety around government formation, we expect the focus to revert to fundamental bottom-up stock picking. That said, sectors with over-heated valuations and recent sharp outperformance viz. Industrials, Railways, Defense, and PSUs may see more moderation in valuations before they become attractive again from the risk-reward perspective.

Largecaps: ICICI Bank, ITC, HCL Tech, Coal India, SBI, L&T, M&M, Ultratech, CIFC and Hindalco;

Midcaps: Indian Hotels, Ashok Leyland, Godrej Properties, Global Health, KEI Industries, PNB Housing, Cello World, and Kirloskar Oil.

10:32:33 AM IST, 05 June 2024

Stock Market LIVE Updates | 10 years of Modi: 597 smallcaps zoom up to 48,000%; will the counters repeat show?

Small and midcap stocks have experienced a remarkable surge over the past decade under the Narendra Modi government, with more than 670 stocks listed on the BSE achieving multibagger status. Nevertheless, experts caution that this upward trend may not be consistent during Modi’s third term. They anticipate sector-specific movements and warn of potential volatility ahead, according to ETMarkets.

10:17:38 AM IST, 05 June 2024

Indian bond yields little changed, market jittery after election verdict

On Wednesday, Indian government bond yields initially declined but then stabilized, remaining largely unchanged. Investors maintained a cautious stance amid concerns about the potential impact of Prime Minister Narendra Modi’s narrower victory margin in his third term.

As of 10:00 a.m. IST, India’s benchmark 10-year yield stood at 7.0467%, compared to its previous close of 7.0382%. The yield experienced its most significant single-session increase since October 6 on Tuesday.

10:16:27 AM IST, 05 June 2024

Sensex Today | Stock Market LIVE Updates | Fear gaunge India VIX decline up to 25%

10:00:52 AM IST, 05 June 2024

Sensex Today | Stock Market LIVE Updates | PSU stocks trade with cuts

09:50:34 AM IST, 05 June 2024

Oil near 4-mth low after OPEC+ supply plan, US stock build

In Asia on Wednesday, oil prices remained close to four-month lows as investors processed an OPEC+ resolution to increase supply later this year and reacted to a rise in U.S. crude and fuel inventories. Brent crude futures saw a slight increase of 4 cents, reaching $77.56 a barrel by 0307 GMT, while U.S. West Texas Intermediate crude futures remained unchanged at $73.25 a barrel.

09:49:41 AM IST, 05 June 2024

Sensex Today | Stock Market View: Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services

The market will take some time to absorb the unexpected election results. Stability will return to the market soon but volatility will continue till there is clarity on the cabinet and the key portfolios. A sharp rebound in the market is unlikely in the near term but sectoral preferences might change. Sectors like FMCG, healthcare and IT will find increasing preferences and the momentum plays will slowdown.

One positive of the sharp market correction is that the excessive valuations have moderated a bit and this will facilitate institutional buying once clarity emerges on the formation and composition of the cabinet.

Investors can start nibbling at high quality largecaps in IT, financials, autos and capital goods.

09:35:14 AM IST, 05 June 2024

Sensex Today | Stock Market LIVE Updates | Sensex, Nifty volatile

After opening in green and then erasing all its gains in the early trade, the Indian stock market indices are now rising.

09:30:22 AM IST, 05 June 2024

Sensex Today | Stock Market LIVE Updates | Most of the Adani stocks plunge

09:27:37 AM IST, 05 June 2024

Sensex Today | Stock Market LIVE Updates | Sensex eraese early gains, trades in red

L&T & SBI among top drags

09:23:57 AM IST, 05 June 2024

Forex News | Rupee rises in early trade

Rupee gains 7 paise to 83.44 against US dollar in early trade.

09:22:02 AM IST, 05 June 2024

Sensex Today | Stock Market LIVE Updates | BEL, BHEL, NHPC maong top movers in morning trade

09:20:53 AM IST, 05 June 2024

Sensex Today | Stock Market LIVE Updates | Opening Bell

Sensex rebounds over 650 pts, Nifty reclaims 22,000 as election verdict anxiety eases

09:12:50 AM IST, 05 June 2024

In a dramatic downturn, Nifty 50 recorded its biggest single-day plunge in over four years, falling 6%, as bears took control of Dalal Street following the BJP’s failure to secure a clear majority in the elections. The Narendra Modi-led BJP leads with 293 seats, but concerns over the new government’s ability to implement bold policies weighed heavily on the market. GIFT Nifty remains subdued despite Modi’s victory speech, with technical indicators pointing to a trading range of 21000-22500. Meanwhile, WTI crude oil futures dropped to a four-month low, offering some relief. Eyes are now on the RBI’s three-day MPC meeting.

– Prashanth Tapse, Senior VP (Research), Mehta Equities

09:12:07 AM IST, 05 June 2024

Sensex Today | Stock Market LIVE Updates | Sensex surges 1,000 pts in pre-open session

Nifty trades above 22,000 in pre-open.

08:38:40 AM IST, 05 June 2024

Sensex Today | Stock Market LIVE Updates: BROKERAGE RADAR | JEFFERIES ON ELECTIONS RESULT: MAHESH NANDURKAR

• Base case remains a coalition Govt led by Mr Modi
• Continue to believe in housing-led capex upcycle
• Potential extreme market reaction could prove to be a buying opportunity
• Large-cap laggards offer the best risk/reward; OWT pvt banks, consumer staples, auto OEMS

  • • Cut OWT on real estate, industrials, & PSUs

08:38:22 AM IST, 05 June 2024

Sensex Today | Stock Market LIVE Updates: BROKERAGE RADAR | IIFL ON ELECTION VERDICT: GV GIRI

• Populism can cause multiples compression
• Unreasonably priced sectors like PSUs, Cap goods vulnerable, but expected to get broad based later
• Avoid Defence
• Sun Pharma, Apollo Hospitals added in large caps, remove SBILI, BPCL

08:37:32 AM IST, 05 June 2024

Sensex Today | Stock Market LIVE Updates: BROKERAGE RADAR | MACQUARIE ON ELECTIONS RESULT: ADITYA SURESH

• India’s GDP growth trajectory since 1980 has been less influenced by the ruling party
• We see the BJP-led govt focusing on job creation, Global manufacturing hubs, improve ease of doing business
• We see no clear evidence to support earnings upgrades across sectors
• Don’t see Fll flows as a support factor
• If SIP support doesn’t hold then we see further downside over the next six months
• Like large caps: HCLT, SUNP, HUVR, HERO, HDFCB. Stocks we still fundamentally like and recommend adding in this pullback with a 2-3 year view: Cummins, Bharat Electronics, Delhivery

08:36:42 AM IST, 05 June 2024

Sensex Today | Stock Market LIVE Updates: BROKERAGE RADAR | MORGAN STANLEY ON ELECTION VERDICT: RIDDHAM DESAI

• Medium-to long-term views do not change
• Realized and implied volatility to ebb in the coming days
• Unresolvable disagreements within the NDA coalition are not priced in by the equity markets
• Unlikely that pace of reforms will slow
• Government is unlikely to sacrifice macro stability as its anchor to economic policy

08:35:47 AM IST, 05 June 2024

Sensex Today | Stock Market LIVE Updates: BROKERAGE RADAR | GOLDMAN SACHS ON ELECTIONS RESULT: SUNIL KOUL

• Buy the weakness; Strong Earnings delivery to drive returns
• Expect mid term 12m returns, expect NIFTY to reach 26,000 by end-June 2025
• Expect 15% earnings CAGR in 2024/25
• Valuations aren’t inexpensive at 22x PE
• Expect foreign flows to return
• Continue to favor domestic sectors
• Upgrade staples from underweight to neutral on likely rural support
• Lower utilities to neutral on rich valuations
• Stay overweight autos, industrials, telcos and insurance
• SMID remain vulnerable given high valuations and increasing regulatory scrutiny

08:35:26 AM IST, 05 June 2024

Sensex Today | Stock Market LIVE Updates: BROKERAGE RADAR | CLSA ON BEL

• Expensive valuations leave little space for execution error
• Downgrade Bharat Electronics (BEL) from BUY to Outperform but lift our target price from Rs207 to Rs294
• Maintain our Outperform rating on Hindustan Aeronautics (HAL) but lift our target price from Rs3,225 to Rs 4,731
• Defence spending has seen a 9% Cagr over FY16-24, and that is unlikely to change

07:55:46 AM IST, 05 June 2024

Sensex Today | Stock Market LIVE Updates | Tokyo stocks open lower

On Wednesday, Tokyo stocks began trading lower, influenced by a strengthened yen in comparison to the dollar, despite positive performances on Wall Street.

The Nikkei 225 index, a key benchmark, dropped by 0.56 percent, or 219.16 points, to reach 38,618.30 in early trading, while the broader Topix index fell by 0.66 percent, or 18.48 points, to 2,769.00.

07:54:45 AM IST, 05 June 2024

Sensex Today | Stock Market LIVE Updates | GIFT Nifty rises 100 points; here’s the trading setup for today’s session

Indian markets reacted to the NDA’s election results with a 6% loss in Sensex and Nifty. Concerns over socialist policies were raised. Traders were cautioned by Kotak Securities. Adian Markets and Hang Seng futures showed varied performance. Oil prices fell slightly. Stocks in F&O ban.

07:28:53 AM IST, 05 June 2024

Oil slips for sixth consecutive day on big builds in US oil, fuel stocks

In early Asian trading on Wednesday, oil prices continued their slight decline from the previous session. This movement came after an industry report revealed increases in U.S. crude and fuel stockpiles, which raised concerns regarding demand growth.

Brent crude futures dropped by 14 cents, or 0.2%, to $77.38 a barrel by 0005 GMT, while U.S. West Texas Intermediate crude futures fell by 18 cents, or 0.3%, to $73.07 a barrel.

07:28:10 AM IST, 05 June 2024

Sensex Today | Stock Market LIVE Updates | Tech View

On Tuesday, the Nifty concluded its session with a notable 6% decline, settling at 21,884.50. This resulted in the formation of a long bearish candle on the daily charts. Additionally, it closed below both short-term and medium-term averages.

For traders now, 50-day SMA or 22,400/73,500 and 22,500/74,000 would be the key resistance areas while 21,600-21,300/71,000-70,200 would act as key intraday support zones. “We are of the view that the current market texture is extremely volatile and uncertain; hence, it is advisable that traders should remain cautious for next few trading sessions,” Shrikant Chouhan, Head of Equity Research, Kotak Securities said.

07:27:04 AM IST, 05 June 2024

Stock Market LIVE Updates | Asian Markets Wrap

  • S&P 500 futures rose 0.1% as of 9:03 a.m. Tokyo time
  • Hang Seng futures rose 0.2%
  • Japan’s Topix fell 0.9%
  • Australia’s S&P/ASX 200 was little changed
  • Euro Stoxx 50 futures fell 1%

07:25:49 AM IST, 05 June 2024

Sensex Today | Stock Market LIVE Updates | Adani stocks, overseas bonds battered by rout

Adani Group’s offshore bonds experienced a decline of 1-2 points in response to the Modi government’s inability to achieve the decisive victory forecasted by exit polls. Adani Green’s recently issued $409 million 6.7% bond dropped to 93/94 from 95/96, while Adani Ports and SEZ’s $750 million 4.375% bond due in 2029 decreased to 88/89 from 90.

09:43:53 AM IST, 05 June 2024

Stock Market LIVE Update | Tuesday Market Wrap: Sensex tanks 4,389 pts, its worst fall in 4 years

India’s stock benchmarks experienced their most significant decline in over four years on Tuesday, triggered by the Bharatiya Janata Party’s (BJP) performance in the general elections falling below expectations. This unexpected outcome fueled a risk-off sentiment in the market. The drop came just a day after a surge in stock prices, driven by exit poll predictions that ultimately proved inaccurate when the actual votes were tallied on Tuesday. Notably, shares of Adani Group and public sector units also saw a sharp decline after having soared in value on Monday.



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *